As a seasoned crypto investor with several years of experience under my belt, I’ve learned to keep a close eye on market corrections like the one we’re currently experiencing. The recent downturn in the cryptocurrency market, as indicated by CoinStats, has been disheartening, but not entirely unexpected.
The corrrection continues on the cryptocurrency market, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has declined by 1.25% over the past day.
On a daily chart, Bitcoin’s price has rebounded from the $62,000 mark. It’s important to keep an eye on the upcoming candle’s final price point.
If it happens far from that mark, traders may expect local growth to the $63,500-$64,000 area soon.
Bitcoin is trading at $62,797 at press time.
ETH/USD
Ethereum (ETH) is the biggest loser today, going down by 4.42%.
As a crypto investor, I’ve noticed that the price of my main altcoin has been declining since yesterday’s bearish closing. If we end up with a bar around current prices today, this downtrend could potentially push the coin towards the $3,000-$3,100 range in the upcoming days.
Ethereum is trading at $3,172 at press time.
XRP/USD
XRP is not an exception to the rule, declining by 1.55%.
From a technical perspective, XRP‘s price has rebounded above the significant support level of $0.50. This level holds importance for buyers because a failure to hold it could lead to further declines towards $0.48 in the near future.
XRP is trading at $0.5137 at press time.
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2024-04-29 20:30